the company into existence * Legal status – Statutory provisions are silent‚ except for certain sections in Specific Relief Act‚ 1963 * Quasi – trustee - Promoter is neither an agent(as principal not in existence) nor a trustee(trust not in existence) of the company but has certain fiduciary duties under Companies Act. He is a quasi – trustee of the company FIDUCIARY POSITION OF PROMOTER * Promoter stands in fiduciary relation to the company he promotes‚ as indicated below: 1. Not
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Prentice Hall’s Federal Taxation 2014 Corporations‚ 27e Chapter C12 The Gift Tax 1) The gift tax is a wealth transfer tax that applies to transfers during a person’s lifetime and transfers at death. Answer: FALSE Page Ref.: C:12-2 Objective: 1 2) The annual exclusion permits donors to make gifts of $14‚000 each to multiple donees. Answer: TRUE Page Ref.: C:12-4 Objective: 1 3) Molly sells her car‚ valued at $30‚000‚ to her nephew Todd for $18‚000. Molly has made a taxable gift. Answer:
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Saunders’ leadership in the KKK as a qualifier for naming the building. “We’re not changing history‚ we’re not rewriting it. We’re shining a bright light on it‚” said trustee Alston Gardner. Gardner congratulated student activists for their perseverance‚ but added‚ “Now I hope you direct your passion on more substantial issues.” Trustee
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the country in their views and vote for legislation that only benefits them while not taking into consideration the interests of the whole country. This is where the trustee model achieves more range in their decision making that can both work in the interests of the electorate as well as the country as a whole. The flaw in the trustee model is however is that representatives cannot always be trusted to make the best decisions. As a means to hold them accountable elections exist in order to bring in
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CONGRESSIONAL POCKET HANDBOOK TABLE OF CONTENTS: 3. --------------- Congressional Committees 4. --------------- Powers 5. --------------- Representatives and Senate Office 6. --------------- Works Cited CONGRESSIONAL COMMITTEES: * Conference Committee: A temporary‚ panel composed of House and Senate conferences which are formed for the purpose of reconciling differences in legislation that has passed both chambers. Conference committees are usually convened to resolve bicameral differences
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except when the property is not an ordinary article of commerce‚ or is of special value or interest to the plaintiff or consists of goods which are not easily available in the market. where the property is held by the defendant as the agent or trustee of the plaintiff. Nivarti Govind Ingale vs R B Patil 1997 SCC - A woman took a loan from a relative and executed a deed of sale in favor of the relative’s minor son with an agreement of re-conveyance at the repayment of loan. This contract was held
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The presence of a sinking fund. A sinking fund is an account set up by the trustee of the bonds. The trustee saves and pools money to purchase‚ pay off‚ or call bonds early. Setting up a sinking fund will lower the risk‚ thus lowering the coupon rate. The risk to the company is not having available funds to feed the trust. 4. A call provision
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Study of working of mutual fund & identify the various factors considered by the customer while going for investment in Mutual Fund A report submitted towards the partial fulfillment of the requirements of the two years full-time MBA Under the Supervision of Mrs. Yashika Aggarwal Faculty LMTSOM Submitted by Sumit Gandhi MBA (Manufacturing) Roll No: 50702045 [2007-09] [LM THAPAR SCHOOL OF MANAGEMNT] Table of content TOPIC EXECUTIVE SUMMARY ABSTRACT LIST OF FIGURE ACKNOWLEDGEMENT
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Republicanism vs. The Democratic Ideals To understand the similarities and differences between ‘republicanism’ and the democratic ideal‚ you must first understand some basic vocabulary. Republicanism was defined by John Adams as‚ “ A government‚ in which all men‚ rich and poor magistrates and subjects officers and people‚ masters and servants‚ the first citizen and the last‚ are equally subject to the laws.” Meaning that republicanism is not about the people having power‚ but about the power that
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cousins who were both born on the same day‚ and both turned 25 today. Their grandfather began putting $2‚500 per year into a trust fund for Steve on his 20th birthday‚ and he just made a 6th payment into the fund. The grandfather (or his estate’s trustee) will make 40 more $2‚500 payments until a 46th and final payment is made on Steve’s 65th birthday. The grandfather set things up this way because he wants Steve to work‚ not be a "trust fund baby‚" but he also wants to ensure that Steve is provided
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